FAO: Although prospects for global cereal supplies have improved since December, they are still expected to decline in 2022-2023

Published 2023년 2월 3일

Tridge summary

The United Nations Food and Agriculture Organization (FAO) has revised its 2022 global cereal production forecast up by 8.3 million tonnes to 2,765 million tonnes, showing a slight increase from the previous year, but still 1.7 percent lower. Wheat production is expected to reach a record 794 million tonnes, despite a decrease in global coarse grain production due to lower estimates in corn production in several countries, including the European Union, the USA, and the Russian Federation. The global rice production forecast has been revised downward, largely due to a decline in China's planted area. As of 2023, winter wheat planting campaigns have been successful, with increased areas in the United States, Ukraine (despite challenges), India, and Pakistan, despite high fertilizer prices and drought conditions in the Central Plains.

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Original content

FAO's current 2022 global cereal production forecast was revised upward by 8.3 million tonnes (0.3 percent) this month to 2,765 million tonnes, still 1.7 percent lower the level of the previous year. Wheat accounted for most of the gains, with upward revisions in production in Australia and the Russian Federation now forecasting global wheat production in 2022 at 794 million tonnes, which could be a new record. Global coarse grain production in 2022 is estimated at 1,459 million tonnes, slightly below the December forecast and 3.3 percent below 2021 levels. The decline was driven by lower corn production estimates for the European Union, the United States of America and the Russian Federation, amid upward revisions in China's crop data. The global barley production forecast was slightly raised on improved Australian crop prospects, while the global sorghum production forecast was unchanged from December levels. For rice, estimates released by the Chinese authorities in December ...

Source: Zol